Monday, March 28, 2011

Pay By Cellphone

Every so often something comes along that's a game changer...especially in the technology world. And I believe one is right on the horizon...Making credit payments with a cellphone.

Let me explain further...Imagine you are checking out at a local retail store. The cashier gives you the total, and you swipe your credit card through the reader. Easy!

Shortly, this will change forever. Here is how...In the future rather than swipe a credit card, you will swipe your cellphone over a card reader. Honest, your cellphone.

Cellphone credit paying is a game changer in more ways than one. The most obvious is convenience.

But the really big question is..."Who gets the fee for the swipe?". Possible recipients...The bank that issued the "credit card"; or the credit card company itself; or how about an independent payment company like PayPal; or possibly your cellphone carrier(verizon, AT&T)...and lets not forget Apple! Apple wants in the act too angling to make iTunes the collection agency for credit payments made through the iPhone.

Cellphone credit paying is going to make billions for one of the above and that's why it is a game changer.

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